Conditions Of Sale
CONDITIONS OF SALE NEW RIVER Auctions AS AGENT
The lots listed in this catalogue will be offered by New River Auctions. as owner or as agent for consignor(s) subject to the following terms and conditions. By bidding at auction you agree to be bound
by these Conditions of Sale.
BEFORE THE SALE
Condition
The condition of lots can vary widely due to factors such as age, previous damage, restoration, repair
and wear and tear. Their nature means that they will rarely be in perfect condition. Lots are sold "as is",
in the condition they are in at the time of the sale, without any representation or warranty or
assumption of liability of any kind as to condition by New River Fine Art, Inc. or by the consignor.
Any reference to condition in the Sale Catalog or in a condition report will not amount to a full
description of condition, and images may not show the condition of a lot. Colors and shades may look
different on the screen or in reproductions to how they look on physical inspection. Condition reports
may be available to help you evaluate the condition of a lot. Condition reports are provided free of
charge as a convenience to our buyers and are for guidance only. They offer our opinion but they may
not refer to all faults, inherent defects, restoration, alteration or adaptation because our staff are not
professional restorers or conservators. For that reason, they are not an alternative to taking your own
professional advice. It is your responsibility to ensure that you have requested, received and considered
any condition report.
New River Fine Art, Inc. and its consignor(s) make no warranty or representation, express or implied,
that the purchaser will acquire any copyright or reproduction rights to any lot sold. New River Fine Art
Inc. expressly reserves the right to reproduce any image of the lots sold in the catalogue.
Estimates
Estimates are based on the condition, rarity, quality and provenance of the lot and on prices recently
paid at auction for similar property. Estimates can change. Neither you, nor anyone else, may rely on
any estimate as a prediction or guarantee of the actual selling price of a lot or its value for any other
purposes. Estimates do not include any buyer's premium or any applicable taxes or charges, if
applicable.
AT THE SALE
Refusal of Admission
New River Fine Art Inc. has the right, at our complete discretion, to refuse admission to the premises or
participation in any auction and to reject any bid.
Registration before Bidding
A prospective buyer must complete and sign a registration form and provide identification before
bidding. We may require bank or other financial references. New River Fine Art, Inc. respectfully
requests that all prospective bidders who wish to bid live in the physical gallery register prior to the day
of the sale so that we may ensure seating for all who desire to bid.
Bidding as Principal
When making a bid, a bidder is accepting personal liability to pay the purchase price, including the
buyer's premium, all applicable taxes and all other applicable charges, unless it has been explicitly
agreed upon in writing, with New River Fine Art, Inc. in advance of the sale date, that the bidder is
acting as agent on behalf of an identified third party acceptable to New River Fine Art, Inc., and that
New River Fine Art, Inc. will only look to the principal for payment.50
Absentee Bids
We will use reasonable efforts to carry out written bids given to us at least 24 hours prior to the sale for
the convenience of clients who are not present at the auction in person, by an agent or by telephone.
Bids must be placed in U.S. dollars. If we receive written bids on a particular lot for identical amounts,
and these are the highest bids on the lot at the auction, it will be sold to the person whose written bid
was received and accepted first. Execution of written bids is a free service undertaken subject to other
commitments at the time of the sale and we do not accept liability for failing to execute a written bid or
for errors and omissions in connection with the written bid. All absentee bidders will be required to
complete a credit card authorization form authorizing New River Fine Art, Inc. to charge the card, if their
bid should be the winning bid, up to and including the highest authorized bid written on their Absentee
Bid Request form, plus Buyer's Premium and any applicable taxes.
Telephone Bids
On lots with a low estimate of $1,000 and above and if a prospective buyer makes arrangements with us
prior to the day of the sale, we will use reasonable efforts to contact them to enable them to participate
in the bidding by telephone and we do not accept liability for failure to do so or for errors and omissions
in connection with telephone bidding. These telephone bids may be recorded at the discretion of New
River Fine Art, Inc.. Due to limited staffing, all requests for telephone bids will be accommodated on a
first come, first serve basis.
Online Bids
If you cannot attend the auction, it may be possible to bid online via the Invaluable bidding platform on New River Fine Art's website. For information about registering to bid online, contact New River Fine Art or visit newriverfineart.com/auction. Bidders using Invaluable' s online bidding service are subject to an additional 5% buyer's premium charged by Invaluable and may be subject to additional Terms and Conditions. These additional Terms and Conditions can be viewed at Invaluable.com. We will use reasonable efforts to carry out online bids but do not accept liability for equipment failure, inability to access the internet or website or software malfunctions related to the execution of online bids or the broadcast of the auction on the internet.
Reserves
Some lots in the sale are subject to a reserve which is the confidential minimum price below which such
lot will not be sold. The reserve will not exceed the low estimate of the lot. Reserves are agreed upon
with consignors or, in the absence thereof, the absolute discretion of New River Fine Art, Inc. The
auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller.
The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by
placing consecutive bids or by placing bids in response to other bidders. With respect to lots that are
offered without reserve, unless there are already competing bids, the auctioneer, in his or her
discretion, will generally open the bidding at half of the low estimate for the lot. In the absence of a bid
at that level, the auctioneer may proceed backwards at his or her discretion until a bid is recognized,
and then continue up from that amount.
Withdrawal of lots
New River Fine Art, Inc. reserves the right, at our complete discretion, to withdraw any lot from the sale,
whether prior to or during the auction and shall have no liability whatsoever with regard to such
withdrawal.
Auctioneer's Discretion
The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the
bidding in such a manner as he or she may decide, to withdraw any lot, and in the case of error or
dispute, and whether during or after the sale, to determine the successful bidder, to continue the
bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale,
our sale record is conclusive.
Successful Bid
The highest bidder acknowledged by the auctioneer will be the purchaser. In the case of a tie bid, the
winning bidder will be determined by the auctioneer at his or her sole discretion. In the event of a dispute
between bidders, the auctioneer has final discretion to determine the successful bidder or to reoffer
the lot in dispute. If any dispute arises after the sale, the New River Fine Art, Inc. sale record shall be
conclusive. Title passes upon the fall of the auctioneer's hammer to the highest acknowledged bidder
subject to the Conditions of Sale set forth herein, and the bidder assumes full risk and responsibility.51
AFTER THE SALE
Buyer's Premium
In addition to the hammer price, the buyer agrees to pay New River Fine Art, Inc. a buyer's premium
and the applicable sales tax added to the final total. The buyer's premium for all purchases except via
live online bidding is twenty (20%) of the hammer price up to and including $250,000; fifteen percent
(15%) of any amount in excess of $250,001 up to and including $1,000,000 and twelve percent (12%) of
any amount in excess of $1,000,001. Purchases made via live online bidding via INVALUABLE includes
the Buyer's Premium stated above plus an additional Buyer's Premium of 5% charged by
INVALUABLE.
Sales Tax
The successful bidder is responsible for any applicable taxes including any sales or use tax or equivalent
tax wherever such taxes may arise on the hammer price, the buyer's premium, and/or any other charges
related to the lot. For lots sold and delivered or shipped within the State of Florida, a Sales Tax equal to
6% will be charged on the hammer price and buyer's premium.
For lots that ship within the United States, a sales or use tax may be due on the hammer price, buyer's premium, and/or any other charges related to the lot, regardless of the nationality or citizenship of the successful bidder according to the laws of the bidder's state of residence.
For lots that ship outside the United States, successful bidder is responsible for all import duties, fees,
taxes and other charges in accordance with the laws of the country to which the lot is shipped.
Payment
Unless other arrangements are made prior to the commencement of the sale, all winning bids will be
charged to the credit card included in the Buyer's Registration form within 48 hours following the sale.
The buyer must pay the entire amount due (including the hammer price, buyer's premium, all applicable
taxes and other charges). Payment in U.S. dollars may be made with credit cards (Visa, Mastercard,
American Express), cash; bank check or cashier's check drawn on a U.S. bank; money order; or wire
transfer unless other arrangements are made with New River Fine Art, Inc. We reserve the right to hold
merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to
pay New River Fine Art, Inc. a handling charge of $50 for any check dishonored by the drawee.
Collecting Purchases
Once New River Fine Art, Inc. has received all funds due to us, the buyer shall collect purchased lots
within seven (7) business days from the date of the sale.
Packing and Shipping
If your bid is successful, we can provide you with a list of shippers. We will not be responsible for the
acts or omissions of carriers or packers whether or not recommended by us. Property will not be
released to the shipper without the buyer's written consent and until payment has been made in full.
Packing and handling of purchased lots by us is at the entire discretion and risk of the purchaser, and New
River Fine Art, Inc. will have no liability of any loss or damage to such items.
Non Payment
If we do not receive payment in full, in good cleared funds, within seven (7) business days following the
sale, we are entitled in our absolute discretion to exercise one or more of the following measures, in
addition to any additional actions available to us by law: a.) to impose a late charge of one and a half
percent (1.5%) per thirty (30) days of the total purchase price b.) to hold the defaulting buyer liable for
the total amount due and to begin legal proceedings for its recovery together with interest, legal fees
and costs to the fullest extent permitted under applicable law c.) to cancel the sale d.) to resell the
property publicly or privately with such terms as we deem appropriate, to resell the property at public
auction without reserve, and with the purchaser liable for any deficiency, cost, including handling
charges, the expenses of both sales, our commission on both sales at our regular rate, all other charges
due hereunder and incidental damages. In addition, a defaulting purchaser will be deemed to have
granted us a security interest in, and we may retain as collateral security for such purchaser's obligations
to us, any property in our possession owned by such purchaser. At our option, payment will not be
deemed to have been made in full until we have collected funds represented by checks, or in the case of
bank or cashier's checks, we have confirmed their authenticity. e.) to offset against any amount owed f.)
to not allow any bids at any upcoming auction by or on behalf of the buyer g.) to take other action as we
deem necessary or appropriate.52
Failure to Collect Purchases
If property is not picked up within seven (7) business days following the sale, whether or not payment
has been made, New River Fine Art, Inc. reserves the right to charge $5 per lot per day or to deliver said
property to a public warehouse for storage at the purchaser's expense. New River Fine Art, Inc. shall
have no liability for any damage to property left on its premises for more than seven (7) business days
following the sale. In addition, we reserve the right to impose a late charge of one and a half percent
(1.5%) per month of the total purchase price if payment is not made in accordance with the conditions
set forth herein. For property that is not picked up after thirty (30) calendar days, an additional
administration fee of $75 will be charged. Property which is paid for but left on our premises for any
reason in excess of thirty (30) calendar days is subject to sale by us with the balance of any funds
recovered in excess of storage charges and any other fees being remitted to you.
LIABILITY
Condition Reports
New River Fine Art, Inc. is not responsible for the correctness of any statement of any kind concerning
any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or
defects in any lot. Neither the seller, ourselves, our officers, employees or agents, give any
representation, warranty or guarantee or assume any liability of any kind in respect of any lot with
regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, completeness,
authorship, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Except as required by local law any warranty of any kind whatsoever is excluded by this paragraph.
Purchased Lots
If for any reason a purchased lot cannot be delivered in the same condition as at the time of sale, or
should any purchased lot be stolen, mis-delivered or lost prior to delivery, New River Fine Art, Inc. shall
not be liable for any amount in excess of that paid by the purchaser.
Legal Ramifications
The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the
auction and any matters connected with any of the foregoing shall be governed and interpreted by the
laws of the jurisdiction in Florida, the County of Broward. If any part of these Conditions of Sale is found
by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the
conditions shall continue to be valid to the fullest extent permitted by law.
Discretion
Any and all of the conditions may be waived or modified in the sole discretion of New River Fine Art, Inc.
